Zurich Insurance Group has appointed Sierra Signorelli, currently group chief underwriting officer, to the role of CEO for Commercial Insurance and as a member of the executive committee with immediate effect.

Signorelli succeeds James Shea, who has decided to leave Zurich to pursue opportunities outside the company. Signorelli's successor will be announced in due course.

Mario Greco, group chief executive officer, said: "Sierra has extensive experience and knowledge of the insurance industry and is a proven and passionate people leader. Her broad skillset, her deep understanding of our business and culture, and her strong customer focus make Sierra the perfect fit for this role. I am confident Sierra will continue to successfully advance our commercial insurance capabilities and ensure the continued success of the business."

Greco continued: "I want to thank Jim for his dedication to Zurich and excellent contributions to our business. He has repositioned Commercial Insurance to achieve sustained profitability and to meet our large corporate customers' evolving and complex needs. I wish Jim all the success for his future endeavors."

Signorelli joined Zurich in 2017 and has long experience in the insurance industry having held senior leadership positions in the US, Asia and Switzerland. 

Shea joined Zurich in September 2016 when the Group combined its Corporate and Commercial businesses into a single global business unit. Under his leadership, Zurich has regained its position as an industry leading commercial insurer through a focus on underwriting discipline, while investing in skills, tools and capabilities to ensure success through the insurance cycles.